The Tax Raven

01/11/2023

As Tax Season creeps upon us, we have been working hard preparing for our current clients to come back and bring all of their friends. Current clients should expect to receive an invitation to our private portal for secure communication and file transfer. Reach out if you have any issues logging on. Keep an eye out on this page for upcoming updates, specials, new staff introductions and general tax information as the season progresses. Happy Tax Season!

05/19/2022

It is not too late to file your tax return. The Tax Raven can help you! Make an appointment today for a free consultation!
www.thetaxraven.com

02/22/2022

Our tax season is picking up steam here at The Tax Raven thanks to the support of our community from Asheville and as far away as Michigan. We are still accepting new clients for virtual bookkeeping and tax preparation services. Contact The Tax Raven today!

01/21/2022

With The Tax Raven, you can opt to pay with your refund. You can start your tax return online today: https://c.refun.do/TTRAVEN

01/15/2022

File taxes with The Tax Raven without ever leaving your home. Visit us at www.thetaxraven.com today to start your virtual tax return.

01/11/2022

IRS Announces E-file Date:
The IRS announced yesterday that their e-file program begins on Monday, January 24th.

Remember that filing your tax return is figuring out if you owe taxes or if you are due a refund. Many people are due refunds this year due to the changes to the child tax credit, earned income tax credit for single filers and the stimulus funds.

As always, let The Tax Raven know if you have any questions. Visit www.thetaxraven.com to schedule a consultation today.

Mrs. Melissa Blaha is excited to announce the launch of her new full-service bookkeeping and tax-preparation business, The Tax Raven. An independent small business based in Asheville, North Carolina, The Tax Raven will help clients guard and grow their net worth through bookkeeping, tax preparation,...

01/05/2022

The Tax Raven's website got a fresh new look just in time for tax season. Please check it out, make an appointment or begin your tax return in our virtual tax office today.

Mrs. Melissa Blaha is excited to announce the launch of her new full-service bookkeeping and tax-preparation business, The Tax Raven. An independent small business based in Asheville, North Carolina, The Tax Raven will help clients guard and grow their net worth through bookkeeping, tax preparation,...

01/04/2022

Update: Collecting funds on Venmo/Facebook Marketplace/eBay

Beginning January 1, 2022 companies the American Rescue Plan Act prompts online companies that collect funds for their clients to report those funds to the IRS if they exceed $600 in a calendar year (down from $20,000).

If you have an online business you already know about the benefits of business deductions you can take against your earnings. However, you may be reselling your used goods and wonder what that means for you.

All online sellers will begin to ask for your personal information in order for you to begin selling. It is important for you to review the guidelines on what constitutes a Hobby vs. a business to decide what type of activity you are engaging in. If you are engaging in a hobby activity you should still keep some records to support your sales and you will be responsible on the overall gains from your activities.

As always, if you have questions, The Tax Raven is here for you.

How do you distinguish between a business and a hobby?

12/28/2021

Final TAX TOPIC Tuesday with The Tax Raven: Wrap-up

As we move into tax season for 2022, The Tax Raven will update more often than Tuesdays. Please continue to use this page to find important tax updates, service announcements and specials.

For my final TAX TOPIC, I wanted to remind everyone that unless Congress acts, there will not be a continuation of the monthly advance child tax credits. Please budget accordingly and watch here for updates.

As always, feel free to message The Tax Raven or schedule a free consultation to see if our services are right for you.

Wishing everyone a Happy New Year!

12/21/2021

TAX TOPIC Tuesday with the Tax Raven: Tax Benefits for Education

Taxpayers who are students are entitled to deductions and credits to offset the costs of education. Choosing which option to take and who should take it can be confusing. If you or your dependents were students this year, you should receive a 1099T. Please make sure your tax preparer knows that you were a student to explore these savings.

Check out this IRS resource on the topic and let The Tax Raven know if you have any questions!

How is the amount of an education credit determined? Answer: To calculate an education credit, you must factor in: The amount of qualified tuition and related expenses you paid for each eligible student in the taxable year, and The amount of your modified adjusted gross income for the taxable year.....

12/14/2021

TAX TOPIC Tuesday with The Tax Raven: IRS Letters for 2021

The IRS will send out two letters that you may need to provide your tax preparer.

Letter 6419 will declare the amount sent to you by the IRS for the advance Child Tax Credit payments in tax year 2021.

Letter 6475 to declare the amount of the third Economic Impact Payment and any Plus-Up payments in tax year 2021.

Retain both of these for your records. If you did not receive the correct amount of either of these tax relief funds, it would be recommended that you file to reconcile the difference.

Do you have questions or concerns about your potential tax liability? Book a free consultation with The Tax Raven today to begin estimating your tax due, or planning for your refund.